Mysuru: Any person who receives any income by way of Salary, Pension, Interest, Business, Profession fee, etc., shall file their Income-Tax Return for the FY 2025-26 (AY 2026-27) before July 31, 2026, which is the due date.
The taxpayers who earn salary and capital gains income shall file their Income-Tax Return in FORM ITR-1 SAHAJ or ITR-2 as applicable on or before July 31.
The taxpayers who earn Business income and not liable for compulsory Audit, shall file their Income-Tax Return in FORM ITR-3 or ITR-4 SUGAM as applicable, on or before Aug.31.
Those who earn Business income and liable for compulsory Audit, shall file their Income-Tax Return in FORM ITR 3 or ITR-4 as applicable before Oct.31.
Taxpayers can also file Belated (late) Return on or before Dec.31, 2026 and Revised Return on or before Mar.31, 2027 on payment of prescribed fee of Rs.5,000. If the total income of the tax payer does not exceed five lakh rupees, the levy of fee payable shall be Rs.1,000 only.
Before filing the Income-Tax Return, it is suggested to verify and report the transactions appearing in Annual Tax Statement (FORM 26AS), Annual Information Statement (AIS) and Taxpayer Information Summary (TIS) wherever applicable.
Wherever there is any doubt, reference may be made to the provisions of the Income-Tax Act,1961, the Income-Tax Rules, 1962, relevant Finance Act and/or circulars and/or notifications, according to a press release from N.D. Shreenivaas of Bhavani Associates, Mysuru.
This post was published on June 15, 2026 7:30 pm